离散指标(A/D)

离散指标（Accumulation Distribution）是由价格和成交量的关系决定的，是预测价格走势的一个主要指标。它可以衡量空头和多头市场的多寡，并可以检测出价格和成交量之间关系的背离——表面趋势正在减弱。离散指标是能量潮指标（On Balance Volume）的增强版。它首先将开盘价、收盘价与其所在期间的价格波动幅度对比，并将结果乘以交易量。

交易信号

离散指标最强的信号是背离：

• 出现看涨背离时做多；
• 看跌背离时做空。

做多时，止损应该放在近期的低点下方；做空时，止损应该放在近期高点上方。
 
示例：

微软公司股价走势以及    离散指标.   离散指标与价格走势背离
 
1.  [L] 处做多， 看涨的背离准确的预测了之后的反弹。
2.  [S] 处做空，看跌的背离信号发生在1月和4月。

离散指标 (A/D) 计算公式

1. 收盘价与开盘价对比：

          收盘价 — 开盘价

2. 与当日的价格波动范围做比较：

         (收盘价 — 开盘价 ) / (当日最高价 — 当日最低价 )

3. 计算结果乘以当日的交易量：

          (收盘价 — 开盘价 ) / (当日最高价 — 当日最低价 ) * 交易量

4. 离散指标是一天中所有数据的集合。

在没有当日开盘价的情况下，一些软件公司采用一个相对简单的公式：

    {(收盘价 — 当日最低价) — (当日最高价 — 收盘价)} / (当日最高价 — 当日最低价) * 成交量

Accumulation Distribution
Accumulation Distribution tracks the relationship between price andvolume and acts as a leading indicator of price movements. It provides a measure of the commitment of bulls and bears to the market and is used to detect divergences between volume and price action - signs that a trend is weakening.
Accumulation Distribution is an enhancement of the On Balance Volume indicator. It first compares opening and closing prices to the trading range for the period, the result is then used to weight the volume traded.
Trading Signals
The strongest signals on the Accumulation Distribution are divergences:
• Go long when there is a bullish divergence.
• Go short when there is a bearish divergence.
Stop-losses should be placed below the most recent low (when going long) and above the latest high (when going short).
 
EXAMPLE
Microsoft is plotted with    Accumulation Distribution. Divergences are shown by    trendlines.
1. Go long [L]. The bullish divergence correctly predicted the subsequent rally.
2. Go short [S]. The bearish divergence signaled the correction in January.
3. Go short [S]. The bearish divergence signaled the correction in April.
Setup
Indicator Panel provides directions on how to set up an indicator. Edit Indicator Settings to change the default settings.
Accumulation Distribution Formula
The Accumulation Distribution Index is calculated as follows:
1. Closing Price is compared to Opening Price:

          Close - Open
2. And compared to the day's range:

          (Close - Open) / (High - Low)
3. The result is multiplied by Volume for the day:

          (Close - Open) / (High - Low) * Volume
4. The Accumulation Distribution Index is calculated as a cumulative total of each day's reading.
Some charting software use a simpler formula where the Open price is not available:

                    {(Close - Low) - (High - Close)} / (High - Low) * Volume

本文翻译由兄弟财经提供

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